• The Political Commentator
Greece, Ireland and Portugal bailouts, EU rate hike, soaring commodity prices, inflation fears, Japan earthquake, federal budget standoff, Middle East unrest and LA pipe bomb at a Jewish temple! So what's good?
The fourth spoke in the original wheel of EU PIGS, or countries most likely to require a bailout to remain solvent, is Spain. All eyes as they say are now on that country after Portugal went to the IMF and the EU for a bailout.
In the meantime the ECB (European Central Bank) bumped interest rates 25 basis points to 1.25%. Given the fact that the bonds of some EU countries are already trading like junk, this rate increase should have little impact on their borrowing costs due to a 1/4 point hike in rates...
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